REVOLUT DETAILED REVIEW

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    Revolut Review

    Revolut is a fast-growing fintech startup founded in 2015, whose main offering—a banking and payment service with commission-free currency exchange rates—has attracted more than 8 million customers. In 2019 the company launched Revolut Trading Ltd., which offers commission-free trading of stocks on 23 international exchanges via that entity’s app.

    Revolut is a financial services company founded in 2015. It was created to offer an alternative to traditional banking, which it believes has become increasingly impersonal and inflexible. The company’s founders wanted to build a service that would allow customers to access their accounts anywhere, anytime.

    The company was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, who had previously worked together at Alfa Bank in Moscow. In September 2016, Revolut raised $6 million from Index Ventures and Balderton Capital; this funding round valued the company at $30 million.

    In June 2017, Revolut added an overdraft feature called “Overdraft Shield” that allows users who have linked their bank accounts with the app to borrow up to 100 percent of the available balance on their linked account if they accidentally spend more than they have available in their card account balance (which is linked directly with one’s bank account). This feature must be activated manually by users when signing up for

    With Revolut, you’re in good hands. We’re regulated by multiple top-tier regulators, including the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Your assets are protected up to $500,000 ($100,000 cash) under the Securities Investment Protection Corporation’s (SIPC) insurance. The protected amount can vary based on your country of residence. Revolut is also regulated by the UK Financial Conduct Authority (FCA).

     

    The official website of the Forex Broker Revolut

    ➔ Open your free trading account with Revolut now

    (Risk warning: 75.59% of retail CFD accounts lose)

    Revolut pros and cons

    Revolut is a mobile-only bank that offers free stock trading to its customers. Although it’s easy to open an account and the app is user-friendly, this service only offers US shares and cryptocurrencies for trading. Besides that, there is a lack of research and educational tools or customer support.

     

     

    Pros Cons
     Free stock trading  Limited product portfolio
     Fast and easy account opening  Basic research and missing educational tools
     Great mobile trading platform  Poor customer service

     

    Revolut main features and highlights
    🗺️ Country of regulation UK, DriveWealth (Revolut’s execution partner) is regulated in the US
    💰 Trading fees class Low
    💰 Inactivity fee charged No
    💰 Withdrawal fee amount $0
    💰 Minimum deposit $0
    🕖 Time to open an account 1 day
    💳 Deposit with bank card Available
    👛 Depositing with electronic wallet Available
    💱 Number of base currencies supported 1
    🎮 Demo account provided No
    🛍️ Products offered Stock, Crypto

     

    ➔ Open your free trading account with Revolut now

    (Risk warning: 75.59% of retail CFD accounts lose)

    Revolut review

    Fees

    Revolut provides a certain number of free trades depending on the plan you choose, but then charges for custody fees and high trading fees once those are exceeded.

    Pros Cons
     Low non-trading fees  High trading fees
     Free stock trading
    Revolut fees snapshot
    Assets Fee level Fee terms
    US stock Low Unlimited free stock trades for Metal accounts; 5 and 3 monthly free stock trades for Premium and Plus accounts, respectively. 1 free trade for Standard accounts
    EURUSD Not available
    Mutual fund Not available
    Inactivity fee Low No inactivity fee

     

     

    When you’re choosing a broker, it’s important to know what fees you’ll be paying. We’ve ranked Revolut’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

    To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

     

    1. Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.

    2. Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

     

    The table below shows the most relevant fees of Revolut for each asset class. For example, in the case of stock investing, commissions are the most important fees.

    We also compared Revolut’s fees with those of two similar brokers we selected: Freetrade and Robinhood. This selection is based on objective factors such as products offered, client profile, fee structure, etc. We also put together a more detailed rundown of Revolut alternatives.

     

    ➔ Open your free trading account with Revolut now

    (Risk warning: 75.59% of retail CFD accounts lose)

    Revolut trading fees

     

    Trading fees at Revolut are low both for stocks and for cryptos.

    If you’re looking for more than one stock trade per month, Revolut offers three account types that let you trade stocks at different rates:

    The Standard account is free and includes one free stock trade per month (previously three). Plus users receive three free stock trades per month. The Premium account costs $9.99 per month and includes five free stock trades per month (previously eight). And the Metal account costs $14.99 per month and allows you to make an unlimited number of free stock trades.

    Once you have exceeded your monthly free trade limit, each trade will cost 0.25% (of the USD order amount) or £1 (or the close equivalent in your base currency), whichever is higher. Minimum country-specific fees are as follows:

     

     

    Revolut trading fees depending on the base currency
    GBP 1 EUR 1 DKK 9 NOK 11
    PLN 4 RON 5 CZK 28 SEK 11
    BGN 2 HUF 368 HRK 8

     

     

    Stock and ETF commission for a $2,000 trade

     

     

    In addition to the 5% fee that Revolut charges for trading, we noticed that the broker also occasionally charges a fee of 5% of the traded amount. We were told by customer support at Revolut that this fee is meant to cover additional expenses and is charged for more volatile stocks. However, we believe that this information should be communicated more clearly to customers.

     

    ➔ Open your free trading account with Revolut now

    (Risk warning: 75.59% of retail CFD accounts lose)

    Crypto fees

    Revolut users can trade cryptos from the Bitstamp exchange and pay a 2.5% markup on either side of the market’s bid or ask price.

    Gold and precious metals

    Revolut customers can now trade gold (XAU) within their Revolut account if they have a Premium or Metal account. This means that you can buy and sell XAU using your Revolut account, and you can hold your gold in your Revolut account. To use this feature, you must add an XAU account through the Commodities widget.

    The costs are derived from the XAU market with a 0.25% markup added by Revolut during market hours and a 1% markup during non-market hours.

    Non-trading fees

    Revolut charges a custody fee of 0.12%, which is much higher than the former rate of just 0.01%.

     

    Revolut non-trading fees
    Deposit fee

    Revolut review

    Account opening

    Revolut has a fast, simple account-opening process that requires no minimum balance.

    Pros Cons
     Fast None
     Fully digital
     No minimum deposit

     

    ➔ Open your free trading account with Revolut now

    (Risk warning: 75.59% of retail CFD accounts lose)

    What is the minimum deposit at Revolut?

    Revolut is a broker that gives you the ability to trade shares, even if you have just a couple of dollars in your account.

    You can move even just a couple of dollars to your trading account from your Revolut account to get started with buying and selling shares.

    Account types

    If you’re looking to trade stocks without having to pay commission fees, Revolut is a great option.

    Revolut has three account types: Standard, Premium and Metal. All three account types offer commission-free trading; the difference lies mainly in the amount of monthly free stock trades:

     

    • the Standard account allows 1 free stock trade per month;

    • the Plus account provides 3 stock trades per month;

    • the Premium account offers 5 free stock trades per month;

    • the Metal account places no limit on the number of free trades.

     

    Your trading account with Revolut is a general investment account. Other account types usually offered by traditional brokerages such as corporate, joint, IRA or ISA accounts are not available.

     

    ➔ Open your free trading account with Revolut now

    (Risk warning: 75.59% of retail CFD accounts lose)

    How to open your account

    Revolut is a digital bank and broker that offers instant access to global markets. Our account was verified within one business day. To open an account, you’ll need to download the app and create a Revolut account.

     

    Our experience with Revolut’s account opening process was very user-friendly and fast, with only 4 steps:

     

    1. Download the app and create a Revolut account. You’ll be asked to enter your name, date of birth, address, nationality, tax number, and employment status. You’ll also need to verify your identity by linking your email address and phone number with your social media accounts (or uploading a scan of your passport or driver’s license).

    2. Go to ‘Dashboard’ and click ‘Trading.’ From here you can check your balance or add funds if needed (we had enough money in our PayPal account for this step).

    3. Add some personal information like your annual income, investment objectives, and whether or not you own any other assets such as stocks or bonds outside of Revolut (we don’t).

    4. Answer questions about how much money you make per month

     

     

    Revolut review - Account opening

    Revolut review – Account opening

    Revolut review

     

    Deposit and withdrawal

    If you’re looking to trade currencies, Revolut is a solid option. The company offers several deposit options, and both deposits and withdrawals are free even when using wire transfers. On the negative side, you can only use a USD-based account for trading and we experienced issues with canceled orders.
    Pros Cons
     Credit/Debit card available  Only one account base currency
     Free withdrawal  Funds can be blocked after cancel order
     No deposit fee

    Account base currencies

    Revolut is a great app for trading stocks, especially if you’re new to the process. You can have many base currencies when using the app, but you can only trade from a USD-based account, as you can only trade on the US stock market.

    It takes only a few seconds to create a USD account, but you need to exchange the amount you wish to trade into USD before you place an order. It would be more convenient if Revolut made the currency conversion automatically.

     

     

    Base currencies at Revolut vs similar brokers
    1 1 1

     

    ➔ Open your free trading account with Revolut now

    (Risk warning: 75.59% of retail CFD accounts lose)

    Deposit fees and options

    Revolut is a mobile banking app that allows you to spend money as easily as you would with a debit card, and it’s free.

    Revolut charges no deposit fees. In addition to bank transfer, you can top up your Revolut account by using credit/debit cards, Apple Pay, and Google Pay.

    You can also withdraw funds in any currency at any ATM worldwide without any fees or additional costs.

     

     

    Revolut deposit options
    Yes Yes Yes
    Yes No No
    Yes Yes No

     

     

     

     

    Revolut review - Deposit and withdrawal - Deposit

    Revolut review – Deposit and withdrawal – Deposit

     

    ➔ Open your free trading account with Revolut now

    (Risk warning: 75.59% of retail CFD accounts lose)

    Revolut withdrawal fees and options

    If you’re an active trader, you’ll be happy to know that Revolut doesn’t charge a fee for withdrawals. You can transfer money from your trading account to your Revolut account instantly and for free, and then send it to your standard bank accounts using bank transfer. However, this method of withdrawal is similar to the ones offered by its competitors: the minimum amount you can withdraw is $1,000.

     

     

    Revolut withdrawal fees and options
    Yes Yes Yes
    No No No
    No No No

     

     

    When you want to withdraw money from your Revolut account, you can do so in just a few clicks.

    Here’s how:

    • Go to ‘Payments’

    • Select ‘Bank Transfer’

    • Add your bank account

    • Choose the currency and the amount you wish to withdraw

    • Initiate the withdrawal

    Funds blocked when order canceled

    We recently discovered that occasionally, funds on your account were blocked for several days after canceling an order. This is not standard practice at other brokers.

    Revolut review

    Web trading platform

    Revolut, which is a mobile-based trading platform, is not available on the web. This can be a drawback, as web-based applications are convenient and accessible from all devices.

     

     

    Revolut platforms to choose from
    Trading platform Score Available
    Web No
    Mobile 4.9stars Yes
    Desktop No

     

     

    Revolut does not offer a web trading platform.

     

    ➔ Open your free trading account with Revolut now

    (Risk warning: 75.59% of retail CFD accounts lose)

    Revolut review

    Mobile trading platform

    The trading platform of Revolut is a well-designed and user-friendly mobile trading platform. It offers Touch/Face ID login, good search functions and a lot of information on each trade. However, there is no two-step login.
    Pros Cons
     User-friendly  No two-step (safer) login
     Good search function  Limited order types
     Touch/Face ID login

     

     

    Revolut offers a mobile trading platform the broker has developed itself. Similarly to other mobile-first services, Revolut offers a great interface catering mostly to the average user. It’s available in 24 languages.

     

     

    Revolut available languages
    Bulgarian Croatian Czech Danish Dutch English
    Estonian Finnish French German Greek Hungarian
    Italian Japanese Latvian Lithuanian Norwegian Polish
    Portuguese Romanian Slovakian Slovenian Spanish Swedish

     

    Look and feel

    Revolut’s mobile trading platform is easy to use and designed for anyone familiar with basic computer applications.

    Revolut review - Mobile trading platform

    Revolut review – Mobile trading platform

     

    ➔ Open your free trading account with Revolut now

    (Risk warning: 75.59% of retail CFD accounts lose)

    Login and security

    Accessing the Revolut platform is possible by entering a four-digit passcode or using TouchID on compatible devices.

    Search functions

    The platform’s search functions are easy to use; simply begin typing an asset’s name or ticker to view relevant hits.One thing we missed was categorization: it would be great if you could filter companies based on industry, market capitalization and other factors.

    Revolut review - Mobile trading platform - Search

    Revolut review – Mobile trading platform – Search

     

    ➔ Open your free trading account with Revolut now

    (Risk warning: 75.59% of retail CFD accounts lose)

    Placing orders

    New order types, such as limit orders and stop-losses, have been introduced in August 2020. Unfortunately options are still very limited when it comes to validity—you cannot set good-till-cancel or good-til date type of orders.

    Revolut review - Mobile trading platform - Order panel

    Revolut review – Mobile trading platform – Order panel

     

    ➔ Open your free trading account with Revolut now

    (Risk warning: 75.59% of retail CFD accounts lose)

    Alerts and notifications

    You can use the price alert function on the Revolut mobile app to receive a notification when an instrument’s price moves past or below a certain level.

     

     

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